India's Sun Pharma to buy Dusa for $230 mln

Reuters Staff

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Nov 8 (Reuters) - India’s Sun Pharmaceutical Industries Ltd said it will acquire U.S. dermatology company Dusa Pharmaceuticals Inc for about $230 million to gain access to its light-based skin treatment platform.

Dusa shareholders will get $8 per share in cash, representing a 38 percent premium to Dusa’s Wednesday stock close.

Dusa was advised by Leerink Swann on the deal, the companies said in a joint statement. (Reporting by Esha Dey in Bangalore; Editing by Roshni Menon)